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What is a Dependent Eligibility Audit?

A Dependent Eligibility Audit is a comprehensive audit of all the enrolled employees and or their dependents currently covered under the benefits plans.

Why should an employer have a Dependent Eligibility Audit?

1. National averages show 5-15% of dependents currently covered are ineligible for their respective benefit plans. Completing an audit of dependents is the most fundamental and direct solution for a Plan Sponsor to validate that Plan Assets are only being used for Plan Participants eligible under the Plan.
2. The Audit can be purchased financially risk free based upon ineligible dependents identified.
3. By completing an audit the Plan Sponsor fulfills its fiduciary responsibility as it relates to Fiduciary Liability and Erisa Compliance.